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FT News Briefing

Boeing races to avoid credit downgrade

Oct 29, 2024
Claire Bushy, an FT reporter with deep insights into Boeing's financial turmoil, shares details on the company's $19 billion share sale aimed at avoiding a credit downgrade. She highlights the implications of Boeing's $6 billion loss and job cuts in the aerospace sector. Joining her is Taylor Nicole Rogers, who addresses the alarming challenges of recruiting poll workers in the U.S., exacerbated by threats and violence. Their discussion underscores a crucial moment in navigating corporate and civic responsibilities.
10:19
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Podcast summary created with Snipd AI

Quick takeaways

  • PwC's revenue decline in Asia highlights the impact of scandals on major consulting firms amid regulatory scrutiny and operational challenges.
  • The U.S. is struggling to recruit poll workers due to fears from threats, prompting jurisdictions to engage new volunteer demographics and enhance security.

Deep dives

PwC's Declining Revenues in Asia

PwC is experiencing a significant drop in revenues within Asia, reporting nearly a 6% decline in the fiscal year ending June. This decline can be attributed to two major scandals: one involving allegations of fraud concealment linked to the failed real estate developer Evergrande in China, and another in Australia where confidential government information was improperly shared by a tax partner. Despite these setbacks, the firm's global revenue still grew comparably to its competitors, indicating that while regional issues are impactful, the overall business may still find stability elsewhere. The situation underscores the challenges faced by major consulting firms in maintaining their market positions amid regulatory scrutiny and operational missteps.

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